Jarir’s Q1 boosted by robust performance of business divisions

Jarir Marketing Co. said all business divisions saw higher sales in Q1 2019, Chairman Muhammad Al-Agil told CNBC Arabia, adding that smart phones and computers accounted for around 70 percent of the company’s sales.

“Market conditions helped us; Jarir has been growing its store network at a good pace over the last year,” Al-Agil added.

Online sales have seen growth in the first quarter, they are set to reach around SAR 350-370 million, or 5 percent of the company’s gross sales in 2019, he noted.

“50 employees are committed to the online sales division; we see our e-commerce further expanding in the coming years,” he said.

Jarir reported net profit of SAR 233.7 million in Q1 2019, compared to SAR 219.1 million in year-earlier period, data compiled by Argaam showed.